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Exercise 8-19A Computing and recording depletion expense LO 8-9 Colorado Mining paid $546,000 to acquire a mine with 42,000 tons of coal reserves. The following

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Exercise 8-19A Computing and recording depletion expense LO 8-9 Colorado Mining paid $546,000 to acquire a mine with 42,000 tons of coal reserves. The following statements model reflects Colorado Mining's financial condition just prior to purchasing the coal reserves. The company extracted 22,050 tons of coal in year 1 and 18,900 tons in year 2. Required a. Compute the depletion charge per unit. b-1. Compute the depletion expense for years 1 and 2 in a financial statements. b-2. Record the acquisition of the coal reserves and the depletion expense for years 1 and 2 in a financial statements model. Complete this question by entering your answers in the tabs below. Required A Required B Compute the depletion charge per unit. Depletion charge per unit per ton

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